Shares of DragonWave (Nasdaq:DRWI) were gapping down Thursday morning with an open price 10.4% lower than Wednesday's closing price. The stock closed at $7.38 yesterday and opened today's trading at $6.61.
NEW YORK ( TheStreet) -- Shares of DragonWave (Nasdaq: DRWI) were gapping down Thursday morning with an open price 10.4% lower than Wednesday's closing price. The stock closed at $7.38 Wednesday and opened today's trading at $6.61. The average volume for DragonWave has been 315,400 shares per day over the past 30 days. DragonWave has a market cap of $282.7 million and is part of the technology sector and telecommunications industry. Shares are down 12.6% year to date as of the close of trading on Wednesday. DragonWave Inc. provides wireless Ethernet equipment for use in Internet protocol networks worldwide. The company has a P/E ratio of 11.2, below the average telecommunications industry P/E ratio of 12.1 and below the S&P 500 P/E ratio of 17. TheStreet Ratings rates DragonWave as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share and unimpressive growth in net income. You can view the full DragonWave Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping down? Get free SMS text alerts sent to you when the action happens by texting DOWN to 95370 or select from multiple alert options.